Renting Property – 5 Legal Mistakes To Avoid

December 12 2010   No Commented

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Home Page > Law > Renting Property – 5 Legal Mistakes To Avoid

Renting Property – 5 Legal Mistakes To Avoid

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Renting Property – 5 Legal Mistakes To Avoid

By: Tim Bishop

About the Author

Bonallack and Bishop are Landlord and Tenant Solicitors with particular specialist experience in advising on Lease Extension cases (http://www.enfranchisementsolicitors.co.uk). Tim Bishop is senior partner at the firm, which he has grown by 1000% in 12 years. He is responsible for all major strategic decisions and sees himself as a businessman who owns a law firm.

(ArticlesBase SC #1927735)

Article Source: http://www.articlesbase.com/Renting Property – 5 Legal Mistakes To Avoid





In the UK, the main reason why people rent is that they do not have the money to either buy a property or look after it properly. Instead, they choose to pay a relatively low rent to enable them to save money for a deposit, which will also be helpful when looking for a good mortgage. Other people might decide to rent if they have to relocate temporarily due to their job, or if they plan to go to university or college away from home, but will be going home during the holidays. No matter why you have decided to rent, you must ensure that you fully comprehend your legal obligations when signing a lease, and don’t make the following mistakes:

1. “I do not need to instruct a solicitor until I have agreed the terms of the lease.”

When renting a property, most people often only decide to instruct a solicitor once they have agreed the terms of the lease. However, instructing a solicitor from the very beginning before any terms have been agreed means that the solicitor is able to advise you on the full terms of the lease and its implications. This means that you can negotiate with the landlord for the most appropriate lease terms for your circumstances.

2. Failing to make sure that you comprehend all the legal terms.

The terms of a lease can be very complicated and if you have any difficulty understanding them you should contact your solicitor and ask them to explain in more detail. It is important that you understand the temrs and obligations of the lease before entering into it.

3. “I’ll have to pay the other side’s legal costs if I withdraw from a transaction.”

Always remember that you can withdraw from a transaction at any time before contracts are exchanged and there is normally no obligation to pay any fees for the other side whatsoever.

4. Not checking the likely timescale of the transaction at the outset.

You should ask your solicitor how long the transaction is likely to take. On average it can take around 4 weeks from first contact with the letting agent to moving in. This period can depend on problems encountered with the legal process and response time from the other side. It is important that you keep in contact with your solicitor to obtain updates.

5. “I have signed my lease and not taken legal advice from a solicitor.”

Once the lease is signed you will be bound by the contents of it. The majority of leases will have many pages of detailed clauses that can affect you financially, so we recommend that you ask a solicitor to look at these and negotiate them for you before you sign the lease.

However, under the Unfair Terms in Consumer Contracts Regulations, terms that are regarded as ‘unfair’ under the regulations will have no effect. You should take legal advice immediately if a landlord seeks to enforce rights against you that you regard as unfair.

Retrieved from “http://www.articlesbase.com/law-articles/renting-property-5-legal-mistakes-to-avoid-1927735.html

(ArticlesBase SC #1927735)

Tim Bishop -
About the Author:

Bonallack and Bishop are Landlord and Tenant Solicitors with particular specialist experience in advising on Lease Extension cases (http://www.enfranchisementsolicitors.co.uk). Tim Bishop is senior partner at the firm, which he has grown by 1000% in 12 years. He is responsible for all major strategic decisions and sees himself as a businessman who owns a law firm.

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Source:  http://www.articlesbase.com/law-articles/renting-property-5-legal-mistakes-to-avoid-1927735.html

Article Tags:
dorset landlord and tenant solicitors, warminster solicitor, wiltshire lawyers, hampshire lawyer, lease extension, landlords, tenants

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Bonallack and Bishop are Landlord and Tenant Solicitors with particular specialist experience in advising on Lease Extension cases (http://www.enfranchisementsolicitors.co.uk). Tim Bishop is senior partner at the firm, which he has grown by 1000% in 12 years. He is responsible for all major strategic decisions and sees himself as a businessman who owns a law firm.

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